Judge Will Not Broaden Lehman Investor Claims For Now

Law360, New York (November 20, 2012, 8:23 PM EST) -- A federal judge on Tuesday refused to revive some investor claims that Lehman Brothers Holdings Inc. misled the market about its exposure to risk in the run-up to the financial crisis, saying the U.S. Supreme Court would have to review class action law regarding separate but similar securities offerings.

Investors wanted U.S. District Judge Lewis A. Kaplan to undo his decision to throw out class action claims related to Lehman notes that they did not ever actually own. The investors, who seek to represent a group...